Harmony Gold Mining Co. (HMY) Stock Rating Lowered by Citigroup Inc.

Harmony Gold Mining Co. (NYSE:HMY) was downgraded by stock analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a report issued on Friday.

A number of other equities research analysts have also recently issued reports on HMY. HSBC cut Harmony Gold Mining from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised Harmony Gold Mining from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, TheStreet raised Harmony Gold Mining from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $5.00.

Shares of Harmony Gold Mining (NYSE:HMY) opened at 2.69 on Friday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 16.71 and a beta of -1.60. Harmony Gold Mining has a 1-year low of $0.53 and a 1-year high of $4.87. The firm’s 50-day moving average is $3.18 and its 200 day moving average is $3.65.

Several large investors have recently bought and sold shares of HMY. Gabelli Funds LLC boosted its stake in Harmony Gold Mining by 42.5% in the second quarter. Gabelli Funds LLC now owns 4,061,000 shares of the mining company’s stock valued at $14,660,000 after buying an additional 1,211,000 shares in the last quarter. DIAM Co. Ltd. purchased a new position in shares of Harmony Gold Mining during the second quarter worth approximately $389,000. Emerald Acquisition Ltd. purchased a new position in shares of Harmony Gold Mining during the second quarter worth approximately $10,229,000. Navellier & Associates Inc purchased a new position in shares of Harmony Gold Mining during the second quarter worth approximately $283,000. Finally, Societe Generale bought a new position in Harmony Gold Mining during the second quarter valued at about $121,000. 25.90% of the stock is owned by institutional investors.

About Harmony Gold Mining

Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa, the Company’s operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines, one open-pit mine and several surface operations.